IS THE euro zone at a turning-point? Policymakers, unsurprisingly, would have you believe so. They point to faster-than-expected growth in the fourth quarter of 2014: the euro zone as a whole grew by 0.3% in the quarter, and its biggest economy, Germany, expanded by 0.7%. The European Commission is forecasting growth in 2015 of 1.3%, which would be the euro area's best outcome since 2010.

Still, it's hard to get excited. France and Italy, the zone's second- and third-largest economies, stagnated in the final quarter of the year. Greece's return to the headlines has the potential to unsettle markets. And fears grow that the 18-member currency club may fall into deflation: prices are falling in Germany, Italy and Spain. The ECB has adopted measures to boost prices and growth—most notably by agreeing to a controversial programme of quantitative easing—but it did so for a reason.

Our interactive graphic (updated February 13th 2015) displays the latest economic and fiscal differences across the European Union.

I have read an article from Timothy Garton Ash in the newspaper "El Pais" which is really insulting to Europeans. He wants Britain to rule over all of Europe´s Foreign Policy while not taking part in Schengen, the Euro etc. According to him only Britain can represent Europe in the World. What kind of idiot is him? According to him the good relationship between Germany and Russia is bad for Europe....when, in fact, it is the backbone of European stability for obvious reasons. Timothy´s dream of another military confrontation with Russia is outdated. Russia is not the USSR. It is difficult to understand why he hates Russia so much. TIMOTHY, GO OUT OF THE EUROPEAN UNION!!!!!. WE DON´T NEED YOU!!!!

Recently, the Economics Nobel Prize laureate Paul Krugman said that "The Euro is a shaky construction" – and no one can deny this statement. The Euro has been designed – by Delors et al – as a "single currency" instead of a (much more realistic) "common currency", and now it is very clear that this was a very bad choice. A "Maastricht 2.0" Treaty is required, as soon as possible, so as to avoid a sad situation, in the near future, where the foreseen "European common home" becomes replaced by a true "European house of correction" :http://building-a-true-european-union.blogspot.com

You are mistaken when you believe that the deutschmark was higher against EMU currencies than after using the Euro. The ‘ECU’ existed as 'shadow common currency' for several years before the introduction of the Euro. Currencies were pegged to this 'virtual currency’. So, all countries knew what to expect.
The problem was that some countries had ‘bad’ governments who made their electorate believe that they could have average living standards on the same level as other Euro countries without the necessary productivity. To compensate for reckless campaign promises they started ‘recklessly’ borrowing money . . . until nobody wanted to lend them money anymore without default-risk surcharges. This is the situation these countries are in now.
I never heard a US state governor winning state elections with similar 'open lies' (as happened in Southern Europe). The electorate in Europe's peripheral countries seems to be less politically educated than the voters of Northern Europe. That's the big "Southern Problem".

It must be said: Greeks and other southern countries lived on credit fr years and now must pay the price!!! Exit from euro would mean very weak currency in Greece lower (and deservly so ) wages in Greece, but back to competitivness in the long run (lower wages mean more competitive companies which means more export and jobs resulting in lower unemployment and lower deficit!

Why other economies cannot get/buy Greek national companies/properties in return for rescue money injekted in the greek economy??? Clearly if you're a bankrupt you shouldn't keep all your gold!!!

In 1912 Britannia Ruled the Waves (but not the icebergs...)
In 2012 Britannia has a "floating currency"
Well, at least there's some continuity.

"Currency pegged to euro" sounds horrible, almost derogatory.

If a Yugoslav patriot had been cryogenically frozen (like Woody Allen in 'Sleeper') in 1962 and defrosted 50 years later, in 2012, if one of the first things he saw was this map he would have exclaimed, "Hey, apparently we lost Slovenia, but we have annexed Albania! At last!", and the doctor would have told him, "no dear, put on your glasses and look closer".

I'd like to add something about east countries which are seeking euro. I don't have any doubt about Denmark, they'll defiantly do that. But what about Latvia, Lithuania, Bulgaria?

From GDP growing we see that Baltic's states are on top. But as well they are on top with unemployment rate especially youth unemployment. That shows that emigration still are mane topic. Fast grow in short term can partly fix that problem.

Latvia and Lithuania have no more then 10% budget debt, which not so big. Public deb of Lithuania as well not so big, but it grow kind fast. Especially after bank nationalization and bankrupt of it. Latvia was bigger debt and balancing at about 60%, which line they can't cross.

So all in all in short term only Denmark and (big) may be Bulgaria can have euro. Lithuania I thing just 2014-2020 in that gape. Fast growing will cause inflation and Lithuania aren't so good dealing with it. Latvia can trip on public debt. So

"Greeks have suffered and Germans are going to lose their money . . . And of course it's going to be the people hating each other, while the politicians keep on being useless."

Germany holds currently not even 3% of Greece's public debt and less when combining Greek bank obligations and state debt. In which way, then, would a Greek state default affect German taxpayers? It would foremost affect Greece's pensions (since they hold the brunt of Greece's debt) and high-yield investors in London and at Wall Street.

Fact is, shortly before George Papandreou resigned - after he announced a referendum - Merkel publicly prompted the Greek voters to decide either to default (and leaving the euro) or vote for a government that meets Greece's debt obligations. The Greek voter chose the latter.

So, don't blame Merkel for Greece's democratic decisions when you don't like the results.

Are you really an English citizen? You write just as an uneducated foreigner. Any Polish immigrant can speak English better than you do. Do you think that an employer will prefer an uneducated indigenous or an educated foreigner?

"Remember that in the U.S. a dozen states tried to secede from the Union and were crushed by Washington DC..." -> That's way too long ago. Everything has been changed since then. If you want to say that there is still possibility that some states are going to do the same thing. I don't agree with you at all.

"Probably many Californians see New Yorkers worse than many French see the Germans. There are different individuals in every state with different views." -> I'm not talking about the degree of emotional attachment to one another. I'm sure that French and Germans see the president of the EU not in the same way as New Yorkers and Californians see the president of United States, which means French have much more concern about the presidential election of France than that of EU. As you know, it's opposite in the US. The attention paid to the election of a state governor is not comparable at all to the presidential election.

I know that there have been some ways of supporting financially poor regions. However, the main problem is when the Euro zone was launched, the value of Deutschemark was higher than that of Euro, and the value of Greek's currency was lower than that of Euro. How can the Euro zone solve this monetary imbalance? Many economists argue that the monetary imbalance was one crucial cause of the fiscal crisis in Greece and some other European countries.

"They have much less coordination than €urozone member states. And the disparity in the level of life among them is higher than among €urozone member states." -> I have a different opinion. I believe that Latin America has better condition than European countries for being united. The reason why it can't happpen for now is that many states are still politically unstable. I'm sure that the unification of Latin America will be discussed after the domestic problems are solved.

"Income per head in all the €urozone is very similar. While income per head in Mississippi is 1/2 of Maryland´s, Spain´s income per head is 3/4 of Germany´s" -> Why didn't you compare income per head of Greece with that of Germany? I'm sure they are not similar at all.

"While in the €urozone there is a similar Social Security system with universal health care, in the U.S. every state has a different health care system..." -> That's the beauty of state system in America. The federal government cannot force each state to follow its direction because they all have their own unique economic condition and culture. Well, obviously, each state is now forced to take Obama Care though. Situation has been changed. However, I don't think Obama Care will last forever because that's violation of the principle that the federal government cannot force each state to launch something.

At least Spain manages its own gold in the Bank of Spain (Madrid) while Germany is not able (or allowed by the occupation powers) to manage its own gold!!! Incredible. Germany has (or not, because they have never been allowed to check them) thousands of tonnes of gold in the U.S. which the Bundesbank cannot even touch. It is just a fiction. That gold just doesn´t exist. All that tale about 3,400 tonnes of "German" gold is just a fiction, because the truth is that Americans, Britons and French took the gold for themselves decades ago, the same way as they took hundreds of German patents and dozens of factories. Note that the Cold War ended two decades ago, and the foreign troops in Germany are still there...and the gold has NEVER returned to Germany. And NEVER will be returned to Germany because it was been EXPROPRIATED by the "Allies". That is the truth, and Germany should forget about those tonnes of gold in their national accounting. There is a big hole, a "gold bubble" at a national level, because Germany doesn´t OWN that gold. Spain can manage its own gold...but for Germany it is FORBIDEN.

It is not sucha good point for Italy to have a positive primary balance. It means that the budgets is more focused on taxes, rathen than reducing expenses. A increase of 1% in VAT, which will happen in July will increase once again the budget, while at the same time reduce the growth rate of the economy.

Depending on the method of measurement the geographical heart of Europe could be: western Ukraine, Lithuania, Estonia, Poland, Slovakia, Hungary.

All of these countries are located East or south of Poland and all of them apart from Estonia and Hungary actually have borders with Poland. Thus writing of Poland as Eastern European country doesn't make any sense to me.

There's no problem to write it as "Eastern European Union country", though.